Gap in aggressive China expansion
Source:
Shanghai Daily
Gap Inc, US's biggest apparel retailer, is set to accelerate its roll-out of new stores in China this year as part of its global expansion strategy.
The San Fransisco-based clothing and accessories retailer unveiled two new stores on Nanjing Road E. and Huashan Road in Shanghai on Wednesday, bringing the total number of its self-branded shops in China to 14 from four in 2010.
Aina Konold, the CFO and vice president of Gap's business in China, said this number is expected to soar to 45 in its 2012 fiscal year ending in January 2013 as China has become one of Gap's most important market worldwide.
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